Average Age of CEOs in Top 30 Groups Slightly Rises to 58.2 Years... "Preparing for Increased Uncertainty and Risks"

Highest age 63.6 Harim... Lowest age 43 Naver
LS shows the largest increase in average age
Financial expert ratio rises 2.8%P to 14.5%

As management uncertainty increases, the average age of CEOs in affiliates of the top 30 conglomerates has risen, along with a higher proportion of CEOs originating from their own companies and finance backgrounds. Analysts suggest this is a result of companies focusing on risk management.

On the 6th, Leaders Index, a corporate analysis research institute, investigated the career histories of CEOs from 294 affiliates of the top 30 conglomerates that submitted first-quarter reports. The average CEO age was 58.2 years, up 0.3 years from 57.9 years in the same period last year.

The proportion of CEOs with external career backgrounds decreased from 21.4% to 20.1%. Meanwhile, the share of CEOs from within the company increased from 78.6% to 79.8%.

By job function, the share of CEOs from finance (11.7% → 14.5%) and management support (15.3% → 17.3%) increased. Conversely, those from production and manufacturing (13.6% → 10.3%) and planning (30.9% → 28.2%) decreased.

Groups with a significant decrease in externally recruited CEOs include Shinsegae (from 4 to 2) and CJ (from 2 to 1).

A representative from Leaders Index stated, "Since last year, as the domestic economy has worsened and global economic uncertainty has increased, this reflects measures aimed at stable and conservative management."

Among the top 30 conglomerates, LS showed the largest increase in average CEO age. The average age of 15 CEOs rose by 2.6 years from 56.1 last year to 58.7 this year.

Leaders Index analyzed that as the third generation of the owner family, including Koo Bon-gyu, CEO of LS Cable & System, Koo Bon-hyuk, CEO of Yesco Holdings, and Koo Dong-hwi, Vice President of LS MnM, recently took the lead in management, experienced professional managers have supported them, resulting in the increased average age.

At CJ, the average age of 13 CEOs increased by 2.3 years from 58.9 last year to 61.5 this year. Shinsegae’s average CEO age of 12 members rose by 1.9 years from 55.0 to 56.9.

The group with the highest average CEO age among affiliates was Harim at 63.6 years. Following were POSCO at 62.1, CJ at 61.5, Jungheung Construction at 61.0, GS at 60.9, Youngpoong at 60.7, Nonghyup at 60.4, and HMM at 60.

Regarding educational background, the so-called SKY universities (Seoul National University, Korea University, Yonsei University) ratio increased by 0.9 percentage points from 50.6% last year to 51.5% this year. The number of female CEOs increased by one, from 8 to 9.